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KCCI delegation discusses host of issues with HDFC Bank MD in Srinagar

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A delegation from the ‘Kashmir Chamber of Commerce & Industry’ (KCCI) held a meeting with Managing Director, HDFC Bank, Mr. Shashi Dhar Jagdishan in Kashmir capital Srinagar today.

The KCCI team felicitated the Managing Director.

HDFC MD welcomed the KCCI team and thanked them for the opportunity of learning the perspective of trade, commerce, and Industry vis-a-vis HDFC Banks’ role in addressing them.

A threadbare discussion on various Banking matters was held in a free and frank atmosphere in which other senior officials of the Bank also participated.

The MD expressed his pleasure to know about the honesty of local businessmen who constituted a minimal percentage of NPAs in comparison to large outside NPA borrowers.

The KCCI brought to his notice the negligible exposure of HDFC Bank in advances and allied activities which he acknowledged and assured that in the near future, a perceptible change will be noticed in respect of advances and allied banking activities. He said that the HDFC Country Credit Head will shortly undertake visits soon and take forward the discussed issues.

The KCCI delegation was led by its Senior Vice President Ashaq Hussain Shangloo and its members comprising Junior Vice President, Fayaz Ahmad Punjabi, Faiz Bakshi, Secretary General, Umar Nazir,  Joint Secretary General and Executive Committee member Irfan Gujju.

The Managing Director, HDFC Bank, Shashi Dhar Jagdishan, and KCCI agreed upon holding a seminar for awareness of available and new schemes, export promotion and facilitations, and other sectors of economic activities.

Some of the important points that KCC discussed the MD HDFC Bank included – Competitive rate of interest, Reduction in working capital Margin and collateral requirements, Handholding of artisans and weavers, Nominal Working capital margins for Start Ups, Green Field Projects (high-density field), CA new upcoming projects, Govt-sponsored Agricultural allied products- Hand holding of new and  existing onesm, Adequate facilities for Export Sector, Service sector inventory Funding, Lending to housing sector, Channel Financing, Introduction of Shariat Compliant interest-free products (Islamic Banking), Inventory funding for automobile sector, MSME, Tourism, Handicrafts sector, Introduction  of full-fledged Inward and outward Forex operations, Special Policies for unemployed youth, Credit card penetration, Wide Publicity and outreach about available products for small traders, businesses, Retail. [KNT]


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